Interest = ₹10,00,000 × 6% Interest = ₹60,000 So, the adjusting entry in the books of the partnership firm would be: Debit: Interest Expense [Interest on capital] & Credit: Partner’s capital account as the firm needs to pay partners so there is an increase in liability.
In the following question below are given some statements followed by some conclusions based on those statements. Taking the given statements to be true...
Statement:
A few Creams are green.
Only green are Pink.
Only a few Pink are brown.
No brown are red.
Concl...
Given below are two statements, followed by two conclusions. Assume the given statements to be true even if they vary with commonly known facts. Based o...
Statements: M @ N, P @ R, P & N
Conclusions: a ) M @ P b) R & M
...Given below is a set of statements followed by two assumptions numbered I and II. You have to consider the statements and the following assumptions and ...
Three statements are given, followed by three conclusions numbered I, II and III. Assuming the statements to be true, even if they seem to be at varian...
Rajesh purchased 6 mangoes, 3 bananas and 10 guavas in ₹136. If the ratio of the cost (per piece) of mangoes, bananas and guavas is 3 : 2 : 1, what wi...
In the following question below are given some statements followed by some conclusions based on those statements. Taking the given statements to be tru...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
Statement:
Some mad are sad.
Only a few sad are bad.
All bad are lad.
No lad is dad.
All dad are gad.
...
